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Condensed Consolidated Statements of Income (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Interest income        
Interest and fees on loans $ 22,914 $ 22,237 $ 44,741 $ 43,810
Interest on securities -- taxable 407 972 816 1,991
Interest on securities -- tax-exempt 763 919 1,560 1,857
Interest on deposits in banks 221 9 380 29
Total interest income 24,305 24,137 47,497 47,687
Interest expense        
Interest on deposits 1,233 1,087 2,399 2,201
Interest on short-term borrowings 211 549 421 1,065
Interest on long-term debt 567 810 1,242 1,619
Total interest expense 2,011 2,446 4,062 4,885
Net interest income 22,294 21,691 43,435 42,802
Provision for loan losses 934 722 1,426 1,909
Net interest income after provision for loan losses 21,360 20,969 42,009 40,893
Noninterest income        
Wealth management 791 810 1,581 1,494
Service charges on deposits 3,360 3,361 6,473 6,652
Other service charges and fees 2,168 2,054 4,246 4,064
Insurance commissions 325 1,600 698 3,791
Impairment losses on securities (11) (11)
Portion of loss recognized in other comprehensive income
Net impairment losses recognized in earnings (11) (11)
Net loss on sale of securities (657) (79) (657) (78)
Net FDIC indemnification asset amortization (1,586) (1,328) (2,918) (2,487)
Other operating income 1,074 623 1,743 1,508
Total noninterest income 5,475 7,030 11,166 14,933
Noninterest expense        
Salaries and employee benefits 9,157 10,198 18,041 20,673
Occupancy expense 1,341 1,359 2,589 2,890
Furniture and equipment expense 1,087 1,109 2,178 2,205
Amortization of intangibles 263 277 524 555
FDIC premiums and assessments 227 372 471 746
Merger, acquisition, and divestiture expense 410 449
Other operating expense 5,383 4,997 10,738 10,018
Total noninterest expense 17,458 18,722 34,541 37,536
Income before income taxes 9,377 9,277 18,634 18,290
Income tax expense 2,959 3,022 6,014 5,951
Net income 6,418 6,255 12,620 12,339
Dividends on preferred stock
Net income available to common shareholders $ 6,418 $ 6,255 $ 12,620 $ 12,339
Earnings per common share        
Basic (in dollars per share) $ 0.38 $ 0.36 $ 0.74 $ 0.70
Diluted (in dollars per share) 0.38 0.36 0.74 0.70
Common dividends declared, per share (in dollars per share) $ 0.16 $ 0.14 $ 0.32 $ 0.28
Weighted average shares outstanding        
Basic (in shares) 17,012,189 17,414,320 17,005,196 17,636,783
Diluted (in shares) 17,082,832 17,462,845 17,075,961 17,675,128